U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
Getting the most out of your tax return can feel like an early spring bonus. Whether you’re a seasoned taxpayer or a newcomer, there are lesser-known deductions that could significantly impact your bottom line.
While the Canada Revenue Agency (CRA) has made filing expenses for people who work from home more complicated this year, there are still plenty of tax-deductible expenses that Canadians might be missing out on:
- Children’s Summer Camps: Yes, you can claim credits for those enriching summer experiences.
- Investment Expenses: If you have non-registered investment accounts, don’t overlook these costs.
- Alimony Payments: If you’re making alimony payments, they may be deductible.
- Moving Costs: Certain circumstances allow you to claim moving expenses.
- Canadian employment amount: You can get credit for uniforms, work supplies, and more, up to $1,368 per year. Plus, if you subscribe to a Canadian news source, you can write off the cost of your subscription.
- Charitable donations: offer excellent tax benefits, especially for high-income earners.
- Contributing to your Registered Retirement Savings Plan (RRSP): is a powerful way to boost your refund and save for retirement. Here’s the magic number: aim for 18% of your income, up to the maximum of $30,780. Be strategic about how much you contribute to retirement savings accounts and charities—this could be the difference between owing the government money or getting a refund.
Remember, every dollar saved through deductions and credits adds up. So, dive into the lesser-known deductions, make smart RRSP contributions, and unlock hidden tax benefits.
Comments
Post a Comment